Repsol Discovers Hydrocarbons in Sirte Basin Offshore Libya

Libya’s NOC reported that a hydrocarbon discovery was made with the A1-NC202 wildcat well offshore Libya in the Sirte Basin. Located approximately 9 miles (15 kilometers) west of the Libyan shoreline and 25 miles (40 kilometers) southwest of Benghazi City in Eastern Libya, the well is located in approximately 50 meters of water.

Drilled to a total depth of 15,815 feet (4,820 meters), the A1-NC202 discovery well encountered both oil and gas in the Demah Formation, at an interval of 4,442 and 4,484 feet (1,354 and 1,367 meters).

Testing of the well showed oil flowing at a rate of 1,264 bopd and natural gas flow of .58 MMcf/d (16.4 Mcm/d) from a 32/64-inch choke. The oil gravity has been measured at 26 degrees API. This is the first discovery on Block NC202.

Awarded by NOC in November 2003, the NC202 Block is operated by Spanish major Repsol, which holds 21% interest. NOC Libya holds 65% interest in the block, and Austrian OMV holds the remaining 14% working interest.



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